Sports Betting
In September, Kentucky sportsbooks generated $2.6 billion in wagers
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished3 hours ago on October 31, 2024
September 2024 was Kentucky’s first full month of football for the year. Sports betting operators in the Bluegrass State hammered bettors during football season, a recurring theme across sports wagering markets in the United States. During September 2024, the NFL and college football had a massive 69% month-over-month increase in wagering. Sportsbooks collected $34.3 million in gross revenue for September thanks to a 13.4% hold.
In September, the Kentucky Horse Racing Commission reported a monthly handle of $255.9 million, up from $45.6 million this time last year. The numbers were so far apart because last September was a shortened, tiered-launch month. Revenue in September was the third-highest all-time for online and retail sportsbooks.
Since its launch in September 2023, Kentucky sports betting has generated $2.6 billion in wagers and $317 million in revenue. The state collected $4.7 million in tax revenue during September 2024. Their year-to-date total is more than $28.3 million. State coffers have been filled with $44 million since last September.
What Kentucky sportsbooks had the most profit in September?
The eight online sports betting operators in Kentucky combined for $246.6 million of the state’s overall handle in September. DraftKings made up 40% of the total wagering in Kentucky at $100.1 million. In October, DraftKings will become the first operator in the Bluegrass State to surpass a $1 billion handle. The operator also led all state sportsbooks with $13.5 million in gross revenue.
Compared to their figures in August, the gap between DraftKings and FanDuel grew during September. FanDuel generated $82.2 million worth of wagers last month. Their 15.6% hold was enough for $12.8 million in revenue. Bet365 had a $26.6 million handle in September. That was up from their $16.3 million in August.
BetMGM was able to generate $12.6 million in wagers while Caesars Sportsbook was not far behind at $11.2 million. Both operators had a double-digit hold in September and surpassed $1 million in revenue. Fanatics’ handle was $3 million larger than ESPB BET but the latter had a 12.5% hold and was just $16,000 behind Fanatics in revenue.
